DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
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SEC-registered adviser
F••• L••• C••••••• L••
Latest filing Apr 29, 2026
First filing on the tape Apr 10, 2020 · 15 filings
SEC status approved since May 15, 2020
RAUM
$332M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
12
10 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
4
reported on Schedule D
History
15 filings and snapshots on the tape
RAUM$332M as of Apr 29, 2026
Mar 31, 2021$324M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Apr 29, 2026
Mar 31, 20210 then
Employees (5.A)12 as of Apr 29, 2026
Mar 31, 202113 then
Private funds4 as of Apr 29, 2026
Mar 31, 20211 then
RAUM -36% over the last fiscal year-16% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Apr 29, 2026; every figure names its basis
- RAUM per advisor
- unknownderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- unknownderivedHNW RAUM over HNW clients
- Average account
- $83.1MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- -36%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, performance-basedreportedItem 5.E
- Advisory activities
- portfolio management for pooled vehiclesreportedItem 5.G
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$332M100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 4reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
Joined, latest
none on the tape
Private funds
6 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| F••• L••• E•••••••• F•••• L• | Real Estate Fund | $192M | 52 | Apr 10, 2020 |
| F••• L••• C••••••• L• | Real Estate Fund | $39.5M | 51 | Mar 29, 2024 |
| F••• L••• A••••••• F•••• L• | Real Estate Fund | $38.5M | 20 | Mar 31, 2022 |
| F••• L••• C••••••• L•no longer reported | Real Estate Fund | $30.7M | 20 | Mar 27, 2023 |
| F••• L••• F•••• F••• I••• L• | Real Estate Fund | $9.8M | 9 | Mar 29, 2024 |
| F••• L••• F•••• F••• I••• L•no longer reported | Real Estate Fund | $3.6M | 9 | Mar 27, 2023 |
Owners and control persons
Schedule A and B, latest filing
- M•••••••• C•••• T••••• · Managing Directorcontrolsince 06/2011 · owns 50% to 75%
- O•••••• E•••• S•••••• · Managing Directorcontrolsince 06/2011 · owns 50% to 75%
- B•••••••• S•••••• J• · Chief Compliance Officer And Vp Of Financesince 03/2024 · owns less than 5%
Related persons
Schedule D 7.A
- F••• L••• A••••••• G•• L••pooled vehicle sponsorn
- F••• L••• C•••••• G•• L••pooled vehicle sponsorn
- F••• L••• E•••••••• G•• L••pooled vehicle sponsorn
- F••• L••• F•••• F••• I•• G•• L••pooled vehicle sponsorn
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- RAUM down 25 %Change between filings · filing Apr 29, 2026RAUM (Item 5.F) moved from $518,000,000 to $332,450,000 (-36.0%) between the annual amendments of 2025-03-18 and 2026-04-29; the peer median change was +4.0% (1147 comparable advisers, 7.0th percentile of changes)peers: asset managers, $100M to $500M (1,147) · 7.0% percentile
What changed
consecutive filings, newest first
- Discretionary RAUM · $479M to $332MMar 27, 2026 to Apr 29, 2026
- Pooled vehicle RAUM · $479M to $332MMar 27, 2026 to Apr 29, 2026
- RAUM · $479M to $332MMar 27, 2026 to Apr 29, 2026
- Advisory employees · 9 to 10Feb 3, 2026 to Mar 27, 2026
- Discretionary RAUM · $518M to $479MFeb 3, 2026 to Mar 27, 2026
- Pooled vehicle RAUM · $518M to $479MFeb 3, 2026 to Mar 27, 2026
- RAUM · $518M to $479MFeb 3, 2026 to Mar 27, 2026
- Employees · 11 to 12Jun 6, 2024 to Mar 18, 2025
- Financial planning clients · unset to Jun 6, 2024 to Mar 18, 2025
- Discretionary RAUM · $484M to $518MJun 6, 2024 to Mar 18, 2025
- Pooled vehicle RAUM · $484M to $518MJun 6, 2024 to Mar 18, 2025
- RAUM · $484M to $518MJun 6, 2024 to Mar 18, 2025
- Other offices · 1 to 0May 3, 2024 to Jun 6, 2024
- Advisory employees · 13 to 9May 30, 2023 to Mar 29, 2024
- Employees · 17 to 11May 30, 2023 to Mar 29, 2024
- Financial planning clients · 0 to unsetMay 30, 2023 to Mar 29, 2024
- Other offices · 0 to 1May 30, 2023 to Mar 29, 2024
- Private funds · 2 to 4May 30, 2023 to Mar 29, 2024
- Discretionary RAUM · $556M to $484MMay 30, 2023 to Mar 29, 2024
- Pooled vehicle RAUM · $556M to $484MMay 30, 2023 to Mar 29, 2024
- RAUM · $556M to $484MMay 30, 2023 to Mar 29, 2024
- Private funds · 4 to 2Mar 27, 2023 to Apr 21, 2023
- Advisory employees · 15 to 13Jun 13, 2022 to Mar 27, 2023
- Employees · 19 to 17Jun 13, 2022 to Mar 27, 2023
- Other offices · 1 to 0Jun 13, 2022 to Mar 27, 2023
- Private funds · 2 to 4Jun 13, 2022 to Mar 27, 2023
- Discretionary RAUM · $600M to $556MJun 13, 2022 to Mar 27, 2023
- Pooled vehicle RAUM · $600M to $556MJun 13, 2022 to Mar 27, 2023
- RAUM · $600M to $556MJun 13, 2022 to Mar 27, 2023
- Accounts · 2 to 4Apr 9, 2021 to Mar 31, 2022
- Advisory employees · 9 to 15Apr 9, 2021 to Mar 31, 2022
- Pooled vehicle clients · 2 to 4Apr 9, 2021 to Mar 31, 2022
- Employees · 13 to 19Apr 9, 2021 to Mar 31, 2022
- Private funds · 1 to 2Apr 9, 2021 to Mar 31, 2022
- Discretionary RAUM · $324M to $600MApr 9, 2021 to Mar 31, 2022
- Pooled vehicle RAUM · $324M to $600MApr 9, 2021 to Mar 31, 2022
- RAUM · $324M to $600MApr 9, 2021 to Mar 31, 2022
- Advisory employees · 7 to 9Apr 10, 2020 to Mar 31, 2021
- Employees · 11 to 13Apr 10, 2020 to Mar 31, 2021
- Discretionary RAUM · $284M to $324MApr 10, 2020 to Mar 31, 2021
Signals
5 dated events
- F••• L••• C••••••• L•• reported RAUM $332.4M, down 31% from $479.0M (2026-03-27 to 2026-04-29)Apr 29, 2026 · RAUM change · derived
- M G••••• N•••••• (Chief Financial Officer And Chief Compliance Officer) no longer on Schedule A of F••• L••• C••••••• L•• (listed 2023-05-30, absent 2024-03-29)Mar 29, 2024 · Control person left · inference
- M G••••• N•••••• (Chief Financial Officer And Chief Compliance Officer) appeared on Schedule A of F••• L••• C••••••• L••Jun 13, 2022 · Control person joined · fact
- F••• L••• C••••••• L•• reported RAUM $600.5M, up 85% from $324.3M (2021-04-09 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- F••• L••• C••••••• L•• filed its initial SEC registration (Form ADV)Apr 10, 2020 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- F••• L••• C••••••• L•• · Venture Capitalshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/fall-line-capital/mycompanyreportedpublic record, Form ADV, Sep 19, 2026
- Website
- f•••••••••.comreportedpublic record, Form ADV, Sep 19, 2026
- Principal office phone
- 650-235-4032reportedpublic record, Form ADV, Apr 29, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
- RAUM per advisor
- n/aderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026
Across the graphs
F••• L••• C••••••• L•• is the same institution as 1 record in Real Estate Funds.
Real Estate Funds1
Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.
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